U.S. State Dept Says There's Not Going To Be Any Cut Or Stoppage Of Military Aid To Israel
Portfolio Pulse from Benzinga Newsdesk
The U.S. State Department has announced that there will be no cut or stoppage of military aid to Israel, according to Reuters.
July 25, 2023 | 5:42 pm
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POSITIVE IMPACT
The iShares MSCI Israel ETF (EIS) could see a positive impact as the U.S. continues its military aid to Israel.
The iShares MSCI Israel ETF (EIS) tracks the investment results of an index composed of Israeli equities. The continuation of U.S. military aid to Israel could strengthen the Israeli economy and, by extension, the performance of Israeli equities. This could lead to a positive impact on EIS in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The news may have a neutral impact on SPDR S&P 500 ETF Trust (SPY) as it is a broad market ETF and the news is specific to Israel.
The SPDR S&P 500 ETF Trust (SPY) tracks the S&P 500 Index, which includes a broad range of U.S. equities. The news about U.S. military aid to Israel is specific to Israel and is unlikely to have a significant impact on the broad U.S. market. Therefore, the impact on SPY is expected to be neutral.
CONFIDENCE 90
IMPORTANCE 40
RELEVANCE 30